Crypto Rover has another critical update to share. The platform asks investors to be hopeful about BTC again. According to their updates, BTC has been up by 7% since the recent elections.
In comparison, the stock of the US has dropped by 20% at large. However, investors are asking why this difference exists and how it can affect them.
It is surely one of the red flags that stock investors should have seen by now. However, this also means that there will be good signs for the crypto market. People will now be interested in trading in the risk on assets like crypto.
At press time, the coin has reached $72,345. CoinMarketCap data confirms that. At the same time, the US stock market has been down by 20%. In addition, the Dow Jones average closed down at 24,500 on the same day.
This difference is often called the decoupling. As the events seem to occur again, the traders and investors are taking a genuine interest in it. This is also a big indicator of the fact that market dynamics are going to change soon.
Firstly, the trading volume of BTC has increased manifold. On popular platforms like Binance and Coinbase, the BTC volume stands at 45,678 BTC within 24 hours.
But what does the increased trading volume suggest?
It might have far flung implications, but firstly, it suggests a strong reviving interest in the market around BTC.
More Trading Implications
There are other multifaceted implications of the decoupling event. Traders are not comparing Bitcoin’s performance against the other coins like ETH and Litecoin.
On 19th April, the BTC was up by 5% against ETH. At the same time, the BTC/ETH pair witnessed BTC growing by 6%. Is the bullish streak for Bitcoin around the corner?
